University of Michigan's $19.2 billion long-term endowment pool returned 8.9% for the fiscal year ended June 30, according to news release from the Ann Arbor-based university.
The university did not provide benchmark or asset class performance information but did note that the long-term endowment pool has seen an annualized return of 9.6% in the 25 years since the university established a separate investment office. The long-term endowment pool had returned 5.2% for the fiscal year ended June 30, 2023.
Chief Investment Officer Erik Lundberg in the news release touted the university’s investments in innovation and climate solutions.
UM officials estimate the university could offset 25% of the endowment’s carbon footprint by the end of the current fiscal year and achieve net zero by the end of FY 2030 from already identified investments, depending on the methods for measuring the offset which are still in development, according to the news release.
“UM has become an established leader in energy transition investments in higher education and is well on its way to transition the investment portfolio to net zero much sooner than the 2050 goal,” Lundberg said.
The university said it will release a detailed investment report after its Dec. 5 Board of Regents meeting.
